A Chinese-Taiwanese group is delaying an up to 80 billion yen ($729.33 million) ...
TOKYO - A Chinese-Taiwanese group is delaying an up to 80 billion yen investment planned as part of a rescue deal for Apple Inc supplier Japan Display as it wants to reassess the target’s prospects, the Japanese firm said.
The buyer group, which includes Taiwanese flat screen maker TPK Holding and Chinese investment firm Harvest Group, had planned to formalize the investment decisions by mid-June. Japan Display has estimated it will post its fifth straight year of net losses for the year ended in March, as disappointing sales of Apple’s iPhone XR, the only model with a liquid crystal display screen, dashed hopes for a turnaround. The company will announce its financial results on Wednesday.“The buyer group is apparently pressurising Japan Display to sweeten the offer,” said Masayuki Otani, chief market analyst at Securities Japan, who is not involved with the deal.
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